Wells Fargo Starts ServiceSource International (SREV) at Outperform; Leader In New Market Segment With Significant Growth Potential
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Price: $1.50 --0%
Rating Summary:
5 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo initiates coverage on ServiceSource International (NASDAQ: SREV) with an Outperform. PT $17.00.
Wells analyst says, "ServiceSource provides service revenue management to technology companies. ServiceSource’s business is to manage the complex renewal process, using both technology and process focus, which enables the outsourcing of renewals by its customers, often resulting in significantly improved performance - numerous customers have seen renewal rates increase by 15-40%. Our valuation range represents a 4.8-5.1x EV-to-sales multiple based on CY2012 estimates. We believe that the stock is undervalued compared with the other high-growth recurring revenue companies."
For more ratings news on ServiceSource International click here and for the rating history of ServiceSource International click here.
Shares of ServiceSource International closed at $12.90 yesterday.
Wells analyst says, "ServiceSource provides service revenue management to technology companies. ServiceSource’s business is to manage the complex renewal process, using both technology and process focus, which enables the outsourcing of renewals by its customers, often resulting in significantly improved performance - numerous customers have seen renewal rates increase by 15-40%. Our valuation range represents a 4.8-5.1x EV-to-sales multiple based on CY2012 estimates. We believe that the stock is undervalued compared with the other high-growth recurring revenue companies."
For more ratings news on ServiceSource International click here and for the rating history of ServiceSource International click here.
Shares of ServiceSource International closed at $12.90 yesterday.
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